The company has begun the first wave of cuts in its plan to eliminate 7,000 jobs
BEIJING – A Walt Disney, one of the world’s largest entertainment groups, has laid off more than 300 employees in Beijing who worked on its streaming services, according to Dow Jones Newswire sources. The move is part of the entertainment company’s restructuring and cost-cutting effort, Disney said.
The layoffs in China happen in the week the company started doing it first wave of cuts of its recently announced plan to eliminate 7 thousand jobs reduce costs by up to $5.5 billion.
China’s downtime has impacted technology employees working in the areas of personalization, research and customer identification for Disney streaming services.
Source: Terra
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